Commodities

Helping to shape Canada’s mining and critical minerals sectors

For more than 20 years, Macquarie has supported Canadian mining companies and projects

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SectorCommodities
Sub-sectorMining and critical minerals
LocationCanada

Opportunity

Canada is one of the world's most attractive destinations for mining investment, supported by an established sector, stable regulation and critical mineral reserves central for digital and energy transition technologies.1 2

As a leading global supplier of critical minerals, Canada is among the top producers of nickel, cobalt, lithium and uranium, and holds the largest share of global potash exports.2 With accelerating global demand for technologies critical to digitalisation, electrification and the energy transition, Canada can play an increasingly important role in supporting future supply needs.

Unlocking this potential requires substantial capital and specialist sector knowledge. As projects become larger and more complex, mining companies need financing partners that understand the technical realities of mining infrastructure and the dynamics of global commodity markets. Financing increasingly involves collaboration between commercial lenders, government-backed investors and alternative capital providers to help move projects towards construction.

Macquarie Commodities and Global Markets draws on more than 20 years’ mining finance experience, commodity market knowledge and long-standing industry relationships to help Canadian mining clients access capital and support sector growth.


Approach

Macquarie Commodities and Global Markets has an established commodities business in Canada, underpinned by sector expertise, disciplined risk management and long-standing relationships with mining and resources clients.

Following the global financial crisis, many traditional lenders reduced their exposure to mining construction finance. Macquarie remained active in the sector drawing on its global physical commodities trading expertise in metals markets and knowledge of the mining project finance market.

Macquarie’s approach brings together financing, commodity market knowledge and trading capability to support clients through the project lifecycle. This enables the business to help mining clients access capital, manage market complexity and progress projects from development to construction and production.

This is supported by broader capability across the Group, including Macquarie Capital’s expertise advising mining and infrastructure companies on mergers and acquisitions, strategic investments, partnerships and capital-raising in Canada and other key jurisdictions globally.

Outcome

The business has led transactions totalling ~ $C1 billion in senior debt financing to support mining projects across Canada.

This financing has helped clients progress gold, silver and copper projects towards construction and production, including:

  • A British Columbia gold and silver project now in production, currently employing ~575 people on site.
  • An Ontario gold project now in production, as one of Canada’s largest gold mines.
  • A Yukon copper, gold and silver project with a long operating history.

The activity reflects Macquarie’s long-standing role in Canadian mining finance and its ability to combine sector relationships, technical expertise and global commodity market knowledge to support future supply.

Yellow goods, large-scale, mining, equipment

20+ years

supporting Canadian mining companies and projects

Financial Growth, Dollar Increase, Wealth Expansion, Money Growth, Currency Appreciation, Economic Growth, Capital Growth, Financial Prosperity

Led ~ $C1 billion

in senior debt financing transactions

Infrastructure Construction, Building, Development, Civil engineering

Specialist financing

across project development, construction and growth

Canada has a deep mining heritage and an important role to play in the development of future supply chains. Our long-term experience and relationships across the sector – combined with our commodity financing expertise – means we can help clients move projects towards production.”

Mike Burns
Head of Mining Finance, Americas
Commodities and Global Markets